What is surrey materials price variance for june

Assignment Help Accounting Basics
Reference no: EM132092424

Question - Surrey Manufacturing uses a standard cost system to collect costs related to the production of its garlic flavored yogurt. The garlic (materials) standards for each container of yogurt produced are 0.8 ounces of crushed garlic at a standard cost of $2.30 per ounce.

During the month of June, Surrey purchased 75,000 ounces of crushed garlic at a total cost of $171,000. Surrey used 64,000 of these ounces to produce 71,500 containers of yogurt.

The direct materials purchases variance is computed when the materials are purchased.

What is Surrey's materials price variance for June?

a. $1,500 Favorable

b. $15,640 Unfavorable

c. $17,250 Favorable

d. $23,800 Favorable

Reference no: EM132092424

Questions Cloud

Determine cherry corporation deduction : Cherry Corporation, a calendar year C corporation, is formed and begins business on 10/1/15. Determine Cherry Corporation's deduction
What is the maximum percent of your income : What is the maximum percent of your income that you should spend on housing, transportation, and savings?
Significatnly affect the quality of the environment : What documentation must be completed prior to a milestone review for a program that will significatnly affect the quality of the environment?
Briefly describe the countrys history : Considering International Marketing - Assignment Description - Briefly describe the countrys history and its relevance to its current cultural state today
What is surrey materials price variance for june : The direct materials purchases variance is computed when the materials are purchased. What is Surrey's materials price variance for June
Whole foods store as an operations planner : A recent college graduate was hired by a whole foods store as an operations planner.
Prepare any disclosures and journal entries : Prepare any disclosures and journal entries required by the airline in preparation of the December 31, 2012, financial statements
Multicultural factors requiring special consideration : Identify some multicultural factors requiring special consideration in projects and project managers.
Foster the development of infants or toddlers : What types of early learning environments foster the development of infants or toddlers? How?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Find the company debt-to-equity ratio at the end of year

Deacon Corporation has provided the following financial data from its balance sheet and income statement: Find the company's debt-to-equity ratio

  Assume that all of the 20000 shares of stock that was

stockholders equity section. balance sheet is provided below.common stock 30 par 20000 share issued and outstanding

  Superstrut is considering replacing an old press that cost

superstrut is considering replacing an old press that cost 80000 six years ago with a new one that would cost 245000.

  Calculate the amount of overhead applied to job

Recently Job X387 was completed and required 240 direct labor-hours. Calculate the amount of overhead applied to Job X387

  Prepare a note amortization schedule for the first year

Prepare a note amortization schedule for the first year, Indicate the amount the customer owes on the contract at the end of the first year

  Recording transactions affecting the enterprise fund and

recording transactions affecting the enterprise fund and business-type activitiesthe city water utility is owned and

  Current earning an economic profit

Peter is currently raising corn on his 100-acre farm and earning an accounting profit of $100 per acre. However, if he raised soybeans, he could earn $200 per acre. Is he currently earning an economic profit? Why or not?

  Greater corporation acquired all of the stock of lesser

greater corporation acquired all of the stock of lesser corporation in 2009 and the entities have filed a state and

  Review problem on demand analysis

Demand Analysis Rouse Manufacturing Limited produces and sells one product, a three-foot Canadian flag. During 20X0, the company manufactured and sold 65,000.

  Determine the price of the bonds at january

Determine the price of the bonds at January 1, 2009, and prepare the journal entry to record their issuance by Patey on January 1, 2009

  Compute the direct material price variance

Standard costs: Material: 2 pounds at $6 per pound = $12 per unit. compute the Direct material price variance and Direct labor rate variance

  Discuss how much will benjamins tax liability decline

how much will Benjamin's tax liability decline because of the investment

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd